USD/HUF may rise 144 - 213 pips

Our pivot point stands at 358.43.

Our preference

The upside prevails as long as 358.43 is support.

Alternative scenario

The downside breakout of 358.43 would call for 357.28 and 356.60.

Comment

The RSI is above 50. The MACD is positive and above its signal line. The configuration is positive. Moreover, the price is trading above both its 20 and 50 period moving average (respectively at 358.72 and 359.28). Finally, the USD/HUF is trading above its upper Bollinger band (standing at 359.68).

Supports and resistances

363.57 **

362.89 *

362.20 **

361.51

360.07 last

358.89

358.43 **

357.28 *

356.60 **

Number of asterisks represents the strength of support and resistance levels.